In all, 24 multinationals have moved to this top destination in China, pushing the total number of companies with regional headquarters there to almost 300.

Twenty-four multinational companies have decided to move their regional headquarters to Shanghai, including six Fortune 500 companies such as Vale (VALE), Walt Disney (DIS), and Kraft Foods (KFT).

This will push the total number of companies with regional headquarters in Shanghai to nearly 300. Nearly 500 have regional research and development centers there.

Shanghai has been China's top destination, for multinationals. Even during the world economic slump, the city's foreign direct investment still increased. Data shows Shanghai's foreign direct investment has already surpassed more than 5 billion US dollars in the first half of this year.

Meanwhile, small businesses struggling in the US face higher taxes and increased medical expenses thanks to the Obama administration. It's a lose-lose situation for small businesses versus larger multinationals.

The worst part of this sorry situation is small businesses are the real economic driver for jobs.

Some people pointed out the use of the word "regional." Offices didn't move out of the US.

True enough.

However, the likelihood those regional offices are bigger at the expense of US is high, but admittedly there's no way of knowing. However the underlying message on tax policy is valid regardless.

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